Meridian Bancorp (EBSB) Sets New 12-Month Low at $15.16

Meridian Bancorp Inc (NASDAQ:EBSB)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $15.16 and last traded at $15.39, with a volume of 6814 shares changing hands. The stock had previously closed at $15.38.

A number of research firms have recently issued reports on EBSB. BidaskClub downgraded Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd.

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $834.57 million, a PE ratio of 16.29 and a beta of 0.21.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, October 23rd. The savings and loans company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. The business had revenue of $45.04 million for the quarter, compared to the consensus estimate of $45.10 million. Equities analysts anticipate that Meridian Bancorp Inc will post 1.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.07 per share. This is an increase from Meridian Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.81%. Meridian Bancorp’s dividend payout ratio is presently 21.05%.

In other news, Director James G. Sartori sold 2,400 shares of the stock in a transaction on Friday, November 30th. The stock was sold at an average price of $16.25, for a total transaction of $39,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Meridian Bancorp during the 2nd quarter worth $111,000. Caxton Associates LP purchased a new stake in shares of Meridian Bancorp during the 3rd quarter worth $184,000. HRT Financial LLC purchased a new stake in shares of Meridian Bancorp during the 3rd quarter worth $188,000. Capital Fund Management S.A. purchased a new stake in shares of Meridian Bancorp during the 3rd quarter worth $197,000. Finally, Bank of Montreal Can purchased a new stake in shares of Meridian Bancorp during the 2nd quarter worth $311,000. 66.17% of the stock is currently owned by institutional investors and hedge funds.

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Meridian Bancorp Company Profile (NASDAQ:EBSB)

Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Essex, Middlesex, Norfolk, and Suffolk Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.

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